Republicans, who have a 52-seat Senate majority, will need 50 votes to repeal the healthcare law, meaning they can only lose two GOP senators if no Democrats support the measure.

Paul didn't offer details on Monday about what would be included in his forthcoming healthcare bill. GOP lawmakers have rolled out various replacement bills for years but haven't publicly coalesced around one alternative.

The Kentucky senator floated in an op-ed last week that the law should be replaced with "freedom."

"The freedom to choose inexpensive insurance free of government dictates," Paul wrote.

He also backed allowing unlimited savings in health savings accounts and buying insurance across state lines.